Countries in the European Union should improve how they share financial intelligence, broaden their asset forfeiture laws and consider new legislation to fight the financing of terrorism, officials said Tuesday. The plan by the European Commission, which would include the creation of a European Counter-Terrorism Centre, is intended to clamp down on organized crime groups, terrorists and cybercriminals. The planned center would house the operations for the EU-U.S. Terrorist Financing Tracking Programme (TFTP) and FIU.NET, a portal for EU financial intelligence units (FIUs). The Commission will also weigh additional measures aimed at terrorism financing, including provisions related to illicit cash...
Four years after rejecting a program to track terrorist financing over budgetary and data privacy concerns, the European Union is reconsidering the project following a string of deadly attacks in the United Kingdom and throughout the 28-nation bloc.
The European Commission will reapprove a controversial agreement to share data on terrorist financing with the United States despite criticism from EU lawmakers, according to an individual with direct knowledge of the matter.
EU lawmakers will discuss controversies later this month surrounding an agreement to share data on terrorist financing with the United States after parliamentarians Thursday called aspects of the deal "unjust."